Political Economy Quote of the Week for 20151228

“In the nature of things the historical and the statistical method treat the matter of experience in much ampler fashion, and gather it from wider fields of observation; but for that very reason they fail, on the whole, to seize any but the larger and more apparent facts: they put economic events, as it were, through a large sieve, where a great many delicate and unobtrusive, but, perhaps, more essential features of economic life, escape unnoticed.” – Eugen von Böhm-Bawerk, The Positive Theory of Capital.

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